Ameriprise Financial (NYSE: AMP) today announced that California Credit Union has moved its investment program to the Ameriprise Financial Institutions Group (AFIG). Serving more than 165,000 members with 25 branches across Southern California, California Credit Union selected the Ameriprise Financial platform to enhance and expand its investment solutions offering for its members. With 11 financial advisors located in San Diego and Los Angeles, the investment program currently manages $750 million in brokerage assets.
To reflect its newly expanded services, the credit union has rebranded its investment group to California Credit Union Wealth Management, a financial advisory practice of Ameriprise Financial Services, LLC.
“We’re always focused on finding new ways to deliver personalized products, convenient services, and leading technologies to support our members through every aspect of their financial journey. Our partnership with Ameriprise Financial significantly enhances our investment solutions, helping members achieve their goals through a broad array of investment products, an improved digital experience, and financial planning tailored to their unique needs,” said California Credit Union CEO Steve O’Connell. “We’re excited to share the many benefits of this partnership with our members, and we are confident we have the best possible expertise, technology and resources behind us with Ameriprise Financial.”
Through the new relationship with Ameriprise Financial, California Credit Union members have access to personalized advice paired with financial planning solutions and robust investment products that are tailored to their individual needs and goals. Digital capabilities power the experience, enabling credit union members to connect with their financial advisors where and how they want – face-to-face, online, video or phone meetings.
“As a long-standing leader in financial planning, we’re thrilled to bring our powerful advice offering to California Credit Union,” said Jay McAnelly, Group Vice President, AFIG. “Our unique advice approach - combined with our breadth of investment products, digital tools, and end-to-end support -- will position California Credit Union to effectively help more of its members plan for the future.”
Ameriprise Financial formed its financial institutions channel after acquiring Investment Professionals, Inc. (IPI) in 2017. AFIG specializes in the on-site delivery of investment programs to banks and credit unions.